Every week we like to gather some of the top articles on eCommerce to share with our followers. Here at Demac Media, we’re passionate about raising the profile of Canadian eCommerce. We are thrilled to share with you a great article on forecasted growth for Canadian eCommerce! We found two other articles on the convergence of retail and how consumers are empowered through the connectivity of mobile. To view this week’s top stories, check out the post below!
Canadian eCommerce is growing! By 2018 online sales are expected to grow by a minimum of 10% from 7% this year. Furthermore, Canadian eCommerce is expected to generate C$33.8 billion in sales. Last week’s Weekly Wrap Up featured a great article on Best Buy’s new brand extension Viva. According to Forrester Research Inc, over the next five years Canadians will increase their online spending by more than 37% as more U.S. based retailers enter the Canadian eCommerce landscape. Retailers such as Best Buy and Target.ca are bringing Canadians more online access to household goods.
The Convergence of Traditional Retail and eCommerce
As eCommerce continues to take hold in the retailing industry, retailers with physical stores should consider taking their business online. Consumers are no longer seeing a distinction between online shopping and in-store shopping signalling the convergence of eCommerce and brick and mortar retail. Doug Stephens, founder of Retail Prophet says, “When something can be efficiently shipped to anyone anywhere, the question of where the sale takes place is rapidly becoming moot”. One thing to consider is that this convergence could change the way retailers provide customer service.
Darrell MacMullin, managing director for PayPal Canada chatted with DX3 and AOL on the rise of the connected consumer marketplace. Consumers are empowered through the use of multiple mobile devices that keep them connected. To some it may threaten merchants; however, MacMullin sees this as an opportunity for retailers to figure out new ways of interacting with customers. Retailers need to understand how to interact with their consumers by looking at commerce from a digital perspective. “Stop looking at it as eCommerce, in fact get rid of the ‘E’ all together and call it commerce.” MacMullin says. Although merchants are reluctant to invest in online technology, they are beginning to realize how essential it is to have an online presence. MacMullin notes the competitive landscape has changed and stresses the point that consumers are looking online for pricing and real time inventory. MacMullin suggests focusing commerce on customer driven innovation because, “Your competitor is not next door anymore, they can be anywhere.”